Main factors motivating luxury goods purchases in South Korea 2024

Published by
Nina Jobst,
Sep 25, 2024

According to a survey conducted in South Korea in July 2024 by Rakuten Insight, high quality was the most important factor when purchasing luxury goods for 42.45 percent of South Korean respondents. Another roughly 38 percent took brand value into consideration.

Leading factors stimulating luxury goods purchases in South Korea as of July 2024

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Release date

September 2024

Region

Japan

Survey time period

July 11 to 30, 2024

Number of respondents

4,650 respondents

Age group

16 years and older

Method of interview

Online survey

Supplementary notes

Original question: "What are the main factors influencing you to buy luxury goods? (Choose up to 3 of the most relevant answers)?"

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Statistics on " Luxury goods in Japan "

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Overview

5

Market segments

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Imported brands

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Luxury consumption

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